Carry forward and set off of loss from Capital gains - (New) Section 111 / (Old) Section 74

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.... 111 of the Income Tax Act, 2025 deals with the carry forward and future adjustment of capital losses when such losses cannot be fully adjusted against capital gains in the same tax year under section 108. (a) Carry Forward of Unabsorbed Capital Loss and Rules for Future Set-Off Section 111(1)(a) applies when, in any tax year, • a taxpayer has a loss under the head "Capital gain....

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....only against income from long-term capital gains arising from another long-term capital asset. (b) Continuation of Unabsorbed Capital Loss to Subsequent Tax Years • If the capital loss cannot be completely adjusted even according to the rules mentioned in clause (a), the remaining balance of loss shall continue to be carried forward to the next tax year. • This process....